Meeting Details

The postal ballot process involves remote e-voting only, without a physical meeting. The e-voting period commences at 9:00 a.m. on Tuesday, 07 July 2026 and ends at 5:00 p.m. on Wednesday, 05 August 2026. The cut-off date for determining eligibility to vote is Friday, 26 June 2026.

Proposed Resolutions and Implications

Resolution 1: Appointment of Mr. Deep S Vadodaria as Chairman & Managing Director

Special Resolution to appoint Mr. Deep S Vadodaria (DIN: 01284293) as Chairman & Managing Director for 3 years effective 07 May 2026 with remuneration not exceeding ₹10,00,000 per month plus benefits. In case of loss or inadequacy of profit, this will be considered minimum remuneration under Schedule V of the Companies Act, 2013.

Resolution 2: Re-appointment of Mr. Prashant H Sarkhedi as Whole Time Director (Director Finance)

Special Resolution to re-appoint Mr. Prashant H Sarkhedi (DIN: 00417386) as Whole Time Director for 3 years effective 07 May 2026 with remuneration not exceeding ₹5,00,000 per month plus benefits. He will be liable to retire by rotation.

Resolution 3: Borrowing Powers under Section 180(1)(c)

Special Resolution to authorize Board of Directors to borrow money up to ₹750 crore (in addition to temporary loans) through loans, bonds, debentures from banks, financial institutions, NBFCs, or body corporates.

Resolution 4: Authority under Section 180(1)(a)

Special Resolution to authorize Board of Directors to create mortgages/charges/hypothecation on company assets to secure borrowings within the overall ₹750 crore limit.

Resolution 5: Loan and Investment under Section 186

Special Resolution to authorize Board to make loans, give guarantees, provide security, or acquire securities of any body corporate up to ₹750 crore at any point in time.

Resolution 6: Loan under Section 185

Special Resolution to authorize Board to give loans, guarantees, or security to subsidiaries, associates, joint ventures, or group entities where directors are interested, up to ₹750 crore.

Resolution 7: Modification of Material Related Party Transactions with Nila Urban Living Private Limited

Ordinary Resolution to approve modified related party transactions with subsidiary Nila Urban Living Private Limited (90% owned) for FY 2026-27, including construction work, loans, guarantees, and property transactions.

Resolution 8: Material Related Party Transactions with Mr. Deep S Vadodaria

Ordinary Resolution to approve related party transactions with Mr. Deep S Vadodaria and his relatives for FY 2026-27, including property transactions, development rights, and personal guarantees for company loans.

Voting Process and Methods

The voting is restricted to remote e-voting only through NSDL's e-voting platform. The company has engaged National Securities Depository Limited (NSDL) as the service provider for e-voting. Individual shareholders holding securities in demat mode can vote through their demat accounts, while other shareholders can vote through NSDL's e-voting website using their user ID and password.

Scrutinizer Appointment

Mr. Umesh Ved of M/s Umesh Ved & Associates, Practicing Company Secretary has been appointed as the Scrutinizer to conduct the postal ballot process in a fair and transparent manner.

Key Voting Information

  • Remote e-voting period: 07 July 2026 (9:00 a.m.) to 05 August 2026 (5:00 p.m.)
  • Cut-off date for eligibility: 26 June 2026
  • Voting rights reckoned on paid-up value of shares registered as of cut-off date
  • Results will be submitted to stock exchanges within 2 working days after e-voting conclusion
  • Results will be displayed on company website (www.nilaspaces.com), NSDL website (www.evoting.nsdl.com), and stock exchange websites

Compliance Confirmation

The notice confirms compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Companies Act, 2013, Companies (Management and Administration) Rules, 2014, various MCA Circulars, and Secretarial Standard on General Meetings (SS-2).

Additional Information

The explanatory statement provides detailed material facts for each resolution, including justification for related party transactions, financial performance of the company (standalone revenue of ₹162.71 crore in 2025-26, profit after tax of ₹26.60 crore), and background information on the directors. For related party transactions, all related parties are restricted from voting on resolutions 7 and 8 as per SEBI LODR Regulations.